Facebook Ads are very simple to set up and basically include an image and some text with a link to any website you choose. There is a Facebook review team that approves each ad within 72 hours, so plan accordingly.

The real power of Facebook Ads is that you can laser target your audience to a degree unlike other PPC networks such as Google Adwords. When users initially sign up for Facebook they answer a series of questions about themselves. This might include location, age, gender, marital status, education, and interests.

All of this data can be used to target your ads. For example, you could launch an ad to single men, 35-40 in zip code 22911 who graduated from UVA. As you can imagine, this provides you with the ability to target different market segments and A/B test various ads quite easily.

A new feature allows for Facebook Ads on Facebook Pages and the ability to target friends of your fans! The stars are aligning!

Are you using Facebook Ads?  How are the results?  If not, when do you intend to try it out?

Related posts:

1. Why Would I Want a Facebook Page for my Business?
2. Facebook is More Like Google and Why Your Business Needs a FaceBook Page
3. Tracking Facebook Ads in Google Analytics
4. Facebook Via – Twitter Retweet Meets Facebook Allowing Friends to Easily Share Content
5. Using Ping.fm vs. Facebook Notes RSS to share blog posts on Facebook Pages